[
THE INVESTOR]
Mando widely beat the market expectations in the fourth quarter last year and will stay on the upturn this year, said Hana Financial Investment on Feb. 8.
The securities firm upgraded its rating to a “buy” from a “neutral” and raised the target price to 300,000 won (US$261.94) from 270,000 won.
“Mando has suggested an earnings target of 6.04 trillion won, a conservative figure taking into account the high baseline, sales of its non-core businesses and low exchange rate,” said analyst Song Seon-jae.
Song estimated that its 2017 revenue will reach 6.13 trillion won and operating margin of 5.6 percent, higher than the company’s 5.4 percent target.
By Hwang You-mee (
glamazon@heraldcorp.com)